Luxury brands and sustainability

The Managing Director of Selfridges recently announced that sustainability is no longer part of their strategy. Instead, their strategy is sustainability. 

There are already so many luxury brands paving the way for others to become more sustainable and to incorporate better processes into their brand strategy. 

If you’re not already on board, here are a few examples to inspire you into action.

Why is sustainability important for luxury brands?

It’s no secret that the average consumer is ever-changing. But a major trend that doesn’t seem to be disappearing any time soon is how consumers want to connect with brands that reflect their own values. And, it just so happens that one of those core values is sustainability. 

Brands no longer just have to provide a good product or great customer service. Now they have a responsibility to do better and be better. However, the average business model isn’t exactly cut out to be environmentally conscious, and the changes to do so can be pretty costly. 

The modern luxury consumer expects more than to be fashionable and elegant; they also want to show that they are ethically and environmentally aware.

Luxury resold

Rather than sit back and pretend reselling of luxury brands doesn’t happen, it’s time for these brands to have a seat at the table. Bringing resale, thrifting, and upcycling in-house, luxury brands can show they’re making a difference and working to improve their own sustainability.

Plenty of brands are now offering the chance to return your unused or no longer wanted items into store with the chance to bag yourself a voucher for something new. These old items can go on to be recycled or turned into a new product. Better yet, they could be resold at a discounted price – making luxury that little bit more accessible.

Looking to sell watches, jewellery, or gold in the UK? Selling pre-owned luxury items promotes sustainability by extending their lifecycle and supporting a circular economy. This eco-friendly approach meets the growing demand for more conscious choices in the luxury market.

Luxurious materials re-invented

Even fast-fashion brands like Primark are taking the plunge to incorporate more sustainable materials into their latest lines.

Sustainable materials don’t need to feel cheap or recycled. However, plenty of consumers will now turn their heads at real leather or fur being used in their fashion. Instead, they’re looking for something that’s environmentally stable while still feeling luxurious. As a brand, it’s your job to find a way to give the customer what they want. If you’re not sure where to start, it might be time to consider using a luxury brand strategy agency.

Luxury brands leading the way to a brighter future

There are plenty of luxury brands – big and small – already paving the way to a brighter future. Here are just a few to inspire change in your business.

Rolex
The iconic watch brand is one of the most influential luxury brands in the sustainability space. Since its creation by Hans Wilsford, the business has focused on preserving the planet and providing awards and grants to others that do the same. Rolex is also a partner of the non-profit National Geographic.

McQueen’s Flowers
Positive Luxury awarded McQueen’s Flowers the ‘butterfly mark’ in 2019, making them the first florist to win the honor. McQueen’s bring beauty into the biggest and most luxurious venues across the globe while protecting Mother Nature in ‘every possible way’. From upgrade their packaging to improving their farming methods, their flowers aren’t the only thing blossoming beautifully into the sustainability space.

The Brando
The Brando Resort takes paradise, luxury, and sustainability in its stride to help customers get the best of both worlds. Using the latest technology, the resort has considered everything from the materials used to build the hotel, how to re-use water through osmosis, and gaining Platinum certification from LEED (The Leadership in Energy and Environmental Design).

How will your brand change?

While these mega luxury brands are certainly inspirational, there are still plenty of small ways you can make your brand more sustainable. Consumers have high expectations, and if you can’t meet them, you’ll quickly find yourself losing brand loyalty in favor of an environmentally conscious rival.

Brands need to go beyond their product and dig deep into their brand strategy to see how they can really make a difference – for their business and the planet.

Big brands in the past have tried ‘greenwashing’, to make things look a little better than they really are. But consumers are savvy, and now is the time to make real changes, innovate and adapt to this brighter and greener future.

In a way, it’s exciting to see what luxury brands can come up with help meet demands in the future.